Legal Question in Real Estate Law in Florida

Hi and thank you for your time. I am in Florida. Does a fiduciary duty exist between a mortgage servicer and a borrower? I do entrust them with my money and with providing me with accurate information. Also can a fiduciary duty exist between a servicer & investor and the servicer & borrower? Thank you

Jim S


Asked on 5/14/14, 8:47 pm

1 Answer from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

A fiduciary is someone entrusted with the money or assets of another person when the legal title to the money or assets is still with the other person. In the mortgage servicer/borrower circumstance on the regular payments being made the answer would be no. They would act as fiduciary on any escrow funds that are held. Cannot answer servicer issue as I don't know what that means. Don't know what investor v. borrower distinction is either.

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Answered on 5/15/14, 6:08 am


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